Pantarhei ups pressure for Organon, sees IPO in 2015

Biotech firm Pantarhei Bioscience is pressing ahead with its efforts to take over the women’s health division at Organon, which is scheduled for closure by owner Merck, the Financieele Dagblad reports.

Last month, Merck said all efforts to find a buyer for Organon had failed. But Pantarhei CEO Herjan Coelingh Bennick says Merck has not studied its takeover plans for ‘procedural reasons’. He hopes going to the FD will put pressure on Merck to change its mind.
On Friday, unions and the Organon supervisory board are due in court to try to force Merck to look at selling all or parts of the company as an alternative to over 2,000 job losses.
Coelingh Bennick claims to have the backing of several major private equity groups and says Organon could be listed on the stock exchange in 2015.

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